According to two industry sources, Paul Carr has a handshake deal
on seed financing from Tony and Arrington's CrunchFund--the new
$20 million VC fund that is backed by a
who's who of Silicon Valley elite and Arrington's former
employer, AOL.

Paul Carr's new company, one source says, will focus on a
specific problem at the intersection of technology and media, one
that Carr has often written about in his TechCrunch
columns.

(The source would not be more specific, but suggested that the
answer could be found in Carr's recent writings. TechCrunch,
meanwhile, appears to have airbrushed Paul Carr's author profile
from the site and redirected his bio to
the main page, so you have to search for his
name.)

In other words, far from floundering around seeking writing gigs
in the wake of his TechCrunch exit, Carr has jumped with both
feet into the heart of the old TechCrunch beat: the technology
startup scene.

And Mike Arrington, meanwhile, seems to be settling happily into
his new life, breaking
news on Twitter and becoming one of the tech-industry's
highest profile financiers.